Examlex
Two lasers emit equal numbers of photons per second. If the first laser emits red light and the second emits blue light, the power radiated by the first is
Novation
A legal process where an old debt, obligation, or contract is replaced by a new one, effectively extinguishing the original agreement and substituting it with a new party or terms.
Obligor
An Obligor is the party in a contractual agreement who is bound to provide a specified performance to another party, the obligee.
Obligee
The party in a contractual agreement who is owed a duty or obligation by another party, the obligor.
Third-Party Donee Beneficiary
A person who benefits from a contract between two other parties, although they are not one of the contract's signatories.
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